Timberland Bancorp, Inc. reported a solid financial performance for the fiscal year ending September 30, 2025, with total assets reaching $2.01 billion, a 4.6% increase from $1.92 billion in the previous year. The company's net loans receivable also grew by 3.0% to $1.46 billion, driven primarily by increases in multi-family and one-to-four-family loans. Total deposits rose by 4.2% to $1.72 billion, reflecting a strategic focus on attracting core deposits, which included significant growth in certificates of deposit and non-interest-bearing accounts.
The company’s net income for the year was $29.16 million, a 20.1% increase from $24.28 million in 2024. This growth was attributed to a $6.03 million rise in net interest income, which reached $70.20 million, alongside a $1.22 million increase in non-interest income. The provision for credit losses decreased slightly to $934,000, indicating stable credit quality despite a rise in non-performing assets, which totaled $4.66 million, or 0.23% of total assets.
Timberland Bancorp has continued to focus on its community-oriented banking strategy, operating 23 branches across several counties in Washington. The company has emphasized the origination of higher-yielding assets, particularly in commercial real estate and construction loans, while managing its exposure to credit risk through conservative lending practices. The allowance for credit losses stood at $18.09 million, representing 1.22% of total loans receivable, reflecting the company's proactive approach to risk management.
In terms of operational developments, Timberland Bancorp has maintained a workforce of 271 full-time employees, with a strong emphasis on diversity and employee engagement. The company has also implemented various initiatives to enhance its technological capabilities and customer service offerings, ensuring it remains competitive in a rapidly evolving financial landscape. Looking ahead, Timberland Bancorp aims to continue expanding its market presence while managing risks associated with economic fluctuations and interest rate changes.
About TIMBERLAND BANCORP INC
Timberland Bancorp, Inc. is a Washington-based holding company for Timberland Bank, a community-oriented financial institution serving consumers and businesses through 23 branches. It specializes in real estate mortgage lending, including residential, multi-family, commercial, and land loans, along with consumer and small business loans. The bank emphasizes local markets, diversified loan portfolios, and risk management to provide deposit, lending, and investment services.
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